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Shares advanced on the country’s two main bourses on Wednesday morning as investors snapped up opportunities with positive first-half earnings reports coming in. Since early this month, many companies have reported first-half earnings that have exceeded their targets and risen strongly against the same period last year. — Photo ndh.vn The VN-Index on the Ho Chi Minh Stock Exchange rose 1.33 per cent to end the morning at 933.54 points. On the Ha Noi Stock Exchange, the HNX-Index was up over 1 per cent at 105.89 points. A total of 146 million shares worth a combined VND2.9 trillion (US$126 million) were traded on the two markets during the morning session. Large-cap stocks continued to drive the market. Twenty three of the top 30 largest shares by market value and liquidity on the Ho Chi Minh Stock Exchange gained value and only six declined. Big gainers included BIDV (BID), Vietinbank (CTG), Military Bank (MBB) and Vietcombank (VCB), all climbing over 2 per cent, … [Read more...] about Shares advance with H1 reports exceeding expectations

Vietnam’s growth is projected at 6.6 per cent in 2018.— Photo VNA The forecast is highlighted in the bank’s recently published Global Focus report for the third quarter of 2018 entitled “Fattening tail risks”. “We are positive on Vietnam’s growth in the medium-term on strong manufacturing activity as FDI inflows to manufacturing remain robust. We believe that Vietnam will remain one of the fastest growing economies in Asia in 2018,” said Chidu Narayanan, Asian Economist at Standard Chartered Bank. According to the latest macro-economic research report, FDI inflows are set to remain high in 2018, led by manufacturing, which makes up close to 50 per cent of inflows. Implemented FDI rose to US$6.75 billion in January-May, higher than the same period last year. The bank expects both registered and implemented FDI to be close to $15 billion in 2018, unchanged from the previous forecast. Standard Chartered economists also forecast a mild … [Read more...] about Standard Chartered ups VN growth forecast

The HCM Stock Exchange has announced the latest update to the blue-chip VN30 Index for the next six months from July 23 to January 1, 2019. The HCM Stock Exchange has announced the latest update to the blue-chip VN30 Index for the next six months from July 23 to January 1, 2019. The VN30 Index tracks down the performance of the 30 largest stocks on the HCM Stock Exchange by market capitalisation and trading liquidity. The latest update of the large-cap stock basket includes three new stocks: Phu Nhuan Jewellery JSC (PNJ), Vietnam Prosperity Joint Stock Commercial Bank (VPB) and Vincom Retail (VRE). PNJ surged 6.2 per cent on Monday, while VPB edged up 0.7 per cent and VRE jumped 3.6 per cent. In return, Bank for Investment and Development of Viet Nam (BID), insurer Bao Viet Holdings (BVH) and PetroVietnam Power Nhon Trach 2 JSC (NT2) are the three stocks that have been axed. BID finished Monday up 2.8 per cent, BVH increased by 1.7 per cent and NT2 rose 0.6 per cent. The VN30 … [Read more...] about HOSE releases updates for VN30 basket

Sai Gon Ground Services JSC (SAGS) will cancel trading of its 24 million shares on the Unlisted Public Company Market (UPCoM) on July 23, according to the Ha Noi Stock Exchange. Sai Gon Ground Services leaves UPCoM SAGS will move to the HCM Stock Exchange (HOSE) after its UPCoM cancellation as the company has gained approval from the HOSE to list its shares on the southern exchange. HOSE’s decision was made on July 4. SAGS trades on the UPCoM under the code SGN and fell 3.6 per cent on Monday to VND142,000 (US$6.31). As of April 27, the company’s largest shareholder was the Airports Corporation of Viet Nam (ACV) with a 48 per cent stake. Saigon Securities Inc (SSI) has a nearly 15 per cent stake. In the first quarter of 2018, SAGS recorded VND318 billion ($14.1 million) in combined revenue, an increase of 20 per cent on-year, and its post-tax profit jumped 40 per cent to VND84.8 billion. VNA … [Read more...] about Sai Gon Ground Services leaves UPCoM

Japanese pharmaceutical firm Taisho has offered to buy more than 9.23 million shares of DHG Pharmaceutical JSC (DHG), 7.06 per cent of DHG’s total shares. Japanese pharmaceutical firm Taisho has offered to buy more than 9.23 million shares of DHG Pharmaceutical JSC (DHG), 7.06 per cent of DHG’s total shares.-Photo DHG The deal is expected to be completed between July 19 and August 17. Taisho will buy DHG shares for VND120,000 (US$5.33) per share, raising the value of the deal to more than VND1.1 trillion ($48.9 million). DHG is trading more than 130.7 million shares on the HCM Stock Exchange coded DHG, gaining 2.1 per cent to end Monday at VND101,800 per share. Taisho Pharmaceutical Co Ltd is among the largest shareholders of DHG, holding more than 32.6 million shares or nearly 25 per cent of the Vietnamese firm’s total shares. The deal would raise Taisho’s ownership in DHG to more than 32 per cent. In early July, DHG gained approval from the State … [Read more...] about Taisho offers to purchase DHG shares